6 days Ago By ABMN Staff
Franklin Resources Inc. decreased its stake in shares of Adeia Inc. ( NASDAQ:ADEA – Free Report ) by 8.
3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,512 shares of the company’s stock after selling 8,248 shares during the period. Franklin Resources Inc.
’s holdings in Adeia were worth $1,279,000 as of its most recent SEC filing. Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in shares of Adeia by 52.
1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares in the last quarter. KBC Group NV lifted its position in Adeia by 74.
6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC bought a new position in Adeia during the 4th quarter valued at $142,000.
Cibc World Markets Corp acquired a new position in shares of Adeia during the 4th quarter valued at $142,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Adeia in the 4th quarter worth $168,000. 97.
36% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth Several brokerages recently weighed in on ADEA. Maxim Group raised their target price on Adeia from $15.
00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.
00 price objective on shares of Adeia in a research note on Friday, February 28th. Finally, BWS Financial boosted their target price on shares of Adeia from $16.00 to $18.
00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Adeia Trading Up 0.7 % NASDAQ:ADEA opened at $11.
85 on Tuesday. The stock has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $13.
15. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.
79 and a beta of 1.47. Adeia Inc.
has a 1-year low of $9.68 and a 1-year high of $17.46.
The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.
15. Adeia ( NASDAQ:ADEA – Get Free Report ) last announced its earnings results on Tuesday, February 18th. The company reported $0.
42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.
17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 17.
19% and a return on equity of 32.81%. During the same period last year, the company posted $0.
27 earnings per share. Sell-side analysts forecast that Adeia Inc. will post 1.
09 earnings per share for the current year. Adeia Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $0.
05 per share. This represents a $0.20 annualized dividend and a yield of 1.
69%. The ex-dividend date was Monday, March 10th. Adeia’s payout ratio is 35.
09%. Adeia Profile ( Free Report ) Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.
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